EXECUTIVE ORDER NO. 503 May 29, 1978
CREATING A PHILIPPINE COUNTERPART FOR THE PERMANENT JOINT PHILIPPINE GERMAN DEMOCRATIC TRADE COMMITTEE
WHEREAS, the opening of diplomatic and trade relations with the German Democratic Republic can contribute towards the Philippine Government's objective of export and market diversification as well as tapping alternative sources of imports;
WHEREAS, being able to share in the demand generated by the German Democratic Republic's growing economy will benefit the Philippines by way of increased trade;
WHEREAS, the Republic of the Philippines and the German Democratic Republic, desiring to strengthen direct trade relations between them in accordance with their development and trade needs and objectives and on the basis of equality and mutual benefit have entered into a Trade Agreement on December 7, 1977;
WHEREAS, Article 13 of the Trade Agreement states that "The Contracting Parties shall meet at least once a year and consult each other at the request of either of them on all matters of mutual interest as well as on the necessary measures aiming at...
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Executive Orders
Creating a Philippine Counterpart for the Permanent Joint Philippine German Democratic Trade Committee
Executive Order No. 503
Summary of Executive Order No. 503
Creation of the Permanent Joint Philippine-German Democratic Republic Trade Committee
- The Committee is created to strengthen direct trade relations between the Philippines and the German Democratic Republic, in accordance with their development and trade needs, objectives, and on the basis of equality and mutual benefit. (Preamble)
- The Committee is formed pursuant to Article 13 of the Trade Agreement between the two countries, which states that they shall meet at least once a year to consult on matters of mutual interest and measures to expand mutual cooperation and trade relations. (Preamble)
Composition of the Committee
- Chairman: The Secretary, Department of Trade (Section 1)
- Vice-Chairman: The President, Philippine International Trading Corporation (Section 2)
- Members:
- The Assistant Secretary for Economic Affairs, Department of Foreign Affairs (Section 3)
- The Assistant Director General, National Economic and Development Authority (Section 4)
- The Assistant Secretary, Department of Natural Resources (Section 5)
- The Assistant Secretary, Department of Agriculture (Section 6)
- The Assistant to the Governor, Central Bank of the Philippines (Section 7)
- A Representative from the Board of Investments (Section 8)
Creation of an Inter-Agency Sub-Committee
- An inter-agency sub-committee at the technical level is created to provide advisory, technical, and secretariat support to the Committee. (Section 9)
- The sub-committee's membership shall be derived from the agencies of the Philippine government enumerated in the Executive Order, with the Director of the Bureau of Foreign Trade as Chairman. (Section 9)
Creation of the Permanent Joint Philippine-German Democratic Republic Trade Committee
- The Committee is created to strengthen direct trade relations between the Philippines and the German Democratic Republic, in accordance with their development and trade needs, objectives, and on the basis of equality and mutual benefit. (Preamble)
- The Committee is formed pursuant to Article 13 of the Trade Agreement between the two countries, which states that they shall meet at least once a year to consult on matters of mutual interest and measures to expand mutual cooperation and trade relations. (Preamble)
Composition of the Committee
- Chairman: The Secretary, Department of Trade (Section 1)
- Vice-Chairman: The President, Philippine International Trading Corporation (Section 2)
- Members:
- The Assistant Secretary for Economic Affairs, Department of Foreign Affairs (Section 3)
- The Assistant Director General, National Economic and Development Authority (Section 4)
- The Assistant Secretary, Department of Natural Resources (Section 5)
- The Assistant Secretary, Department of Agriculture (Section 6)
- The Assistant to the Governor, Central Bank of the Philippines (Section 7)
- A Representative from the Board of Investments (Section 8)
Creation of an Inter-Agency Sub-Committee
- An inter-agency sub-committee at the technical level is created to provide advisory, technical, and secretariat support to the Committee. (Section 9)
- The sub-committee's membership shall be derived from the agencies of the Philippine government enumerated in the Executive Order, with the Director of the Bureau of Foreign Trade as Chairman. (Section 9)